Bulls n Bears Investors Notebook Issue 126:31 October 2018

Wed Oct 31 11:20:26 CAT 2018

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Bulls n Bears Investors Notebook Issue 126:31 October 2018

 <http://www.nicozdiamond.co.zw/> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

Relations are all about: Winning, Losing & Sharing.
Winning Trust, Losing ego

Govt wage bill to hit $3,7bn after salary hikes

GOVERNMENT'S wage bill is seen growing by 16% this year to $3,7 billion,
rising to $3,9 billion next year and pushing the budget deficit to nearly
14% of the gross domestic product (GDP), government projections show.
Zimbabwe already spends 80% of its budget on salaries for government
workers, who received a raise of 17,5% from July, adding a further $500
million to the wage bill this year, from an original projection of $3,2
billion.  <http://www.bulls.co.zw/> Read more >

Govt withdraws errant service stations' licences

Government has withdrawn licences for fuel service stations caught trading
irregularly, contributing to serious shortages of petrol and diesel that had
rocked the market for several weeks, resulting in long and winding queues
and panic-buying. Addressing a media briefing after yesterday's Cabinet
meeting, Information minister Monica Mutsvangwa also said government was
concerned by high prices of goods still on the market and failure by
companies to respect the Bank Use Promotion Act, which outlaws a three-tier
pricing system.  <http://www.bulls.co.zw/> Read more >

 <http://www.firstmutualproperties.co.zw/> 

For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

'Foreigners fuel smuggling'   

FOREIGNERS who operate small unregistered shops in downtown areas of major
cities in Zimbabwe, are reportedly perpetrating rampant smuggling of basic
goods into neighbouring countries at a time Zimbabwe is experiencing acute
shortage of the same, the Confederation of Zimbabwe Retailers (CZR) has
claimed. CZR says the issue has been reported to Government through the
Ministry of Industry and Commerce for appropriate interventions. The goods
are reportedly smuggled out to countries such as Angola, Democratic Republic
of Congo (DRC), Mozambique and Zambia.  <http://www.bulls.co.zw/> Read more
>

Zim FDI increases

Zimbabwe was among top destinations for Foreign Direct Investment (FDI) last
year, recording a near 100  percent growth in number of projects from the
previous year compared to  its neighbours that recorded declines, the latest
report from global accounting firm, Ernst and Young (EY) shows. Harare,
under a new administration led by President Mnangagwa, is on a drive to
boost investment through the "open for business" mantra. In its Africa
Attractiveness Report for 2018 released yesterday, Ernst and Young said
Zimbabwe had seen the number of its FDI projects jump to 13 in 2017 compared
to seven the previous year.  <http://www.bulls.co.zw/> Read more >

Hwange Colliery under administration   

GOVERNMENT has placed ailing coal mining firm Hwange Colliery Company
Limited under administration to allow it to recover and potentially return
to profitability. HCCL, which has been performing badly for several years,
has been changing management regularly but that did not translate to a turn
of fortunes for the company. Justice, Legal and Parliamentary Affairs
Minister Ziyambi Ziyambi appointed an administrator, Mr Bekithemba Moyo,
together with two assistants. The reconstruction order was made in terms of
Section 4 of the Reconstruction of State-Indebted Insolvent Companies Act
(Chapter 24: 27) (No. 27 of 2004).  <http://www.bulls.co.zw/> Read more >

'Manufacturers have let down consumers'   

The manufacturing sector has let consumers down by failing to produce enough
for the domestic market despite enjoying protection from competition in the
last few years, the Consumer Council of Zimbabwe (CCZ) has said. In a recent
interview with our Bulawayo Bureau, CCZ executive director, Ms Rosemary
Siyachitema, said manufacturers have taken long to adequately produce goods
to satisfy the Zimbabwean market and continue hiding behind "lack of
capital".  <http://www.bulls.co.zw/> Read more >

Foreign firms show interest in new fuel pipeline   

Government is in discussions with two foreign companies interested in
setting up a second fuel pipeline connecting Zimbabwe and Beira, the
port-city of Mozambique, according to Energy and Power Development Minister
Joram Gumbo. Minister Gumbo said he met with the officials from two foreign
companies on Monday who are interested in setting up the facility that he
said will have far reaching consequences to the Zimbabwean economy in the
future. Zimbabwe currently uses the Feruka Oil Pipeline to receive around 90
percent of its fuel requirements from foreign suppliers.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Explore alternative investment options that retain value   

Zimbabwe, a nation on the brink of a possible economic turnaround, had its
progress almost halted last month by the "invisible hands" of the market,
with pressures coming in many different forms. Citizens were thrown into a
flurry of panic, succumbing to market pressures and irrational market
behaviour. The multiple currency system currently being employed played a
part in the unprecedented price hikes, with parallel market rates for the
greenback skyrocketing. While the Minister of Finance has come out in
defence of the use of bond notes, which have helped ease liquidity
challenges since their introduction, there have been various market forces
forcing a dual currency, with both RTGS and bond notes trading at massive
discounts compared to the US dollar.  <http://www.bulls.co.zw/> Read more >

Seed, fertiliser firms reduce prices   

SEED and fertiliser producers yesterday started reducing prices following
Monday's meeting with President Emmerson Mnangagwa. Briefing journalists
after the Cabinet meeting yesterday, Information, Publicity and Broadcasting
Services Minister Monica Mutsvangwa confirmed the meeting. "After Cabinet,
the President held a follow up meeting with seed producers and fertiliser
producers as you are aware there is an outcry there over the prices. "At
this meeting the President was formally informed of the positive
developments regarding the prices, which are now being continuously reviewed
downwards so that at least our people can go back to the fields," she said.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Masvingo's $5,2 billion GDP potential   

MASVINGO has the potential to achieve a $5,2 billion contribution to the
Gross Domestic Product (GDP) by 2030 if available opportunities in the
province are fully exploited, a Cabinet minister has said. Addressing
stakeholders during a provincial business conference at a local hotel on
Monday, Higher and Tertiary Education, Science and Technology Development
Minister Professor Amon Murwira said there was no way Masvingo could not be
self-sufficient given the resources that the province has.
<http://www.bulls.co.zw/> Read more >

Blanket mine lowers production targets

HARARE - Gold producer, Blanket mine has  lowered its production forecast
for the year despite recording improved  output in the quarter ended
September 30. Blanket mine, which is located in Gwanda, Matabeleland South
Province,  is one of the biggest producers of gold in Zimbabwe. In a
quarterly production update, its parent company Caledonia Mining
Corporation said third quarter production stood at approximately 13 978
ounces, 10 percent above second quarter production but three percent  below
the same period last year. Gold produced for the nine months to September
30, 2018 was 39 559  ounces, marginally behind the 39,710 ounces produced in
the  corresponding period in 2017. <http://www.bulls.co.zw/> Read more >

WorldRemit records 20pc surge in cash-pick up service

HARARE - WorldRemit, says it has seen a 20 percent increase in transactions
to cash pick up locations in Zimbabwe in the in the first half of October as
compared to the same period in September. In a statement, the global money
transfer agent said the recent surge in cash transactions is on the back of
partnerships with local banks and additional cash pick up points. "This
recent surge follows consistent growth in transactions sent to cash pick-up
locations over the last year, since worldRemit stepped in to bring USD in
cash into Zimbabwe. <http://www.bulls.co.zw/> Read more >

BULAWAYO - Companies in Bulawayo have resorted to short-time working hours
due to shortage of raw materials as foreign currency shortages continue to
take its toll, the Confederation of Zimbabwe Industries (CZI) has said. In
an interview, CZI Matabeleland Chamber president Mr Joseph Gunda said a
number of companies such as General Beltings, Shepco Industries and Zimplow
have started sending their workers home because of depressed productivity
caused by foreign currency constraints. "We are in a tight spot as forex
shortages hit industries harder. Generally most of us, it has been almost
three weeks with no allocations and most of the industries rely on the
importation raw materials and without allocations the situation is getting
worse," he said.  <http://www.bulls.co.zw/> Read more >

Command agriculture to continue for next 10 years   

THE Command Agriculture programme introduced by Government in 2016 will
continue for the next 10 years as it has proved to be a success, an official
has said. In his address at the Africa regional conference in Victoria Falls
on Wednesday, Air Force of Zimbabwe Commander Air Marshal Elson Moyo said
Command Agriculture has had a huge impact on Zimbabwe's economy. PKF
Chartered Accountants, an international accounting and audit firm with
offices in Zimbabwe, hosted the rotational conference on behalf of Zimbabwe.
<http://www.bulls.co.zw/> Read more >

Russian billionaire jets into Zimbabwe for investment deal

Russian billionaire, Mr Dmitry Mazepin has arrived in the country for talks
with the government this week about investment in Zimbabwe's fertiliser
industry. Agriculture is the mainstay of the economy but it has been hit
hard by shortages of fertiliser with prices of the commodity being sold
beyond the reach of many people. One of the biggest producers of fertliser,
Chemplex is reeling under financial challenges and its main investor, the
Industrial Development Corporation (IDC) recently announced plans to sell
controlling stake in the company. <http://www.bulls.co.zw/> Read more >

Lifting Import Restrictions Does Not Address Forex Challenges Faced By Local
Industries - CZI

The Confederation of Zimbabwe Industries (CZI) has said that the
government's decision to indefinitely remove all import restrictions is not
well thought out because it does not address the challenges faced by local
industries. CZI president Sifelani Jabangwe said the issue of inadequate
foreign currency will still need to be addressed and will actually become
worse. Said Jabangwe.  <http://www.bulls.co.zw/> Read more > 

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

REST OF AFRICA

Counters Trading Under Cautionary

NicozDiamond

Ariston

Barclays

Dawn

Unifreight

Hwange

RTG

Post your event (AGM, EGM, Analysts Briefing, etc) on the Investor Diary
free of charge and reach out to the market. We have annual gold prices since
1900, monthly since January 1971 and daily prices since January 2000. We
also provide historical ZSE prices on request.

DISCLAIMER: This report has been prepared by Bulls 'n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls 'n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and sourced from third parties.

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